Since our earliest days, we’ve been working on identity for credential verification, based on the open-source platform, Identity.com. The identity solutions that we’ve built since are diverse – everything from establishing your age, so that you can get a beer out of a vending machine, to facilitating KYC for DeFi applications. Most recently, we collaborated with Solrise Finance on the launch of Solrise Dex Pro, the first permissioned DEX built on Solana, using a new product from Civic, called Civic Pass.
Civic Developer Resources
Now, we’re making Civic Pass available to developers everywhere. The idea is that developers can plug Civic Pass into their platform and create an identity layer that allows for a permissioned dApp platform, be it a DEX, an NFT marketplace or mint, a metaverse, or who knows what else you’ll come up with.
Done thoughtfully, identity verification will drive a more trusted web3 ecosystem. For example, the way DEXs are currently designed and used locks out institutional players. These larger entities, which have the ability to bring a lot of liquidity to the market, cannot use DEXs due to counterparty risk. They need to meet regulatory requirements in order to keep their licenses.
Specifically, institutional players must not interact with individuals or organizations that are sanctioned from using regulated financial institutions or platforms. Failure to comply with Anti-Money Laundering, Counter Terrorism Financing regulations and other sanctions could result in prison time for individuals and colossal fines for participating firms.
We believe that this permissioning can and should be done on-chain and that it should be done in a privacy-first and privacy-focused way. Ultimately, it should be in the power of the individual user to share their identity or not, and they should do so only if they want to access tools and financial services that are really interesting to them. Our point of view is that composable identity on-chain is the next evolution of what is required to enable a web3 structure, whether it’s a DEX, AMM, NFT marketplace or lending protocol.
Civic Pass is our answer to this problem. With Civic Pass, many different identity elements may be permissioned. So, if for example, a lending protocol has different needs, or if a dApp in another country has a lower threshold for KYC requirements, these components may be configured as needed. Regulations are inevitable, and we need to ensure that the right systems are in place so that these nascent companies can quickly and painlessly adapt as regulations change.
Getting Started is Easy
Visit our Developer Resources and reach out to us once you are ready to start integrating. Our tools aim to make a permissioned identity layer more accessible to dApps. The guide outlines integration with projects built on Solana, but support for other chains is coming soon.
We’re Here to Support You
While we’re a small but mighty team, we’re committed to helping you integrate with Civic Pass. You can find us in the #dev channel on our Discord server, and we’d love to answer your questions.
We look forward to seeing what you build and hope this guide helps to better understand the potential implementations and possible innovations that Civic Pass can offer to your dApps.